Intech Investment Management LLC Buys 16,096 Shares of Alector, Inc. (NASDAQ:ALEC)

Intech Investment Management LLC lifted its stake in shares of Alector, Inc. (NASDAQ:ALEC) by 83.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,382 shares of the company’s stock after purchasing an additional 16,096 shares during the quarter. Intech Investment Management LLC’s holdings in Alector were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ALEC. Charles Schwab Investment Management Inc. grew its stake in shares of Alector by 14.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 760,606 shares of the company’s stock worth $3,544,000 after buying an additional 94,145 shares during the last quarter. FMR LLC boosted its holdings in shares of Alector by 1.0% during the 3rd quarter. FMR LLC now owns 14,595,014 shares of the company’s stock valued at $68,013,000 after acquiring an additional 137,794 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Alector during the 3rd quarter worth $93,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Alector in the 3rd quarter worth about $40,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Alector by 18.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,017,687 shares of the company’s stock worth $4,742,000 after purchasing an additional 159,111 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Alector Stock Performance

Shares of ALEC stock opened at $1.29 on Friday. Alector, Inc. has a fifty-two week low of $1.26 and a fifty-two week high of $6.78. The stock has a 50 day simple moving average of $1.59 and a two-hundred day simple moving average of $2.99. The company has a market cap of $127.82 million, a P/E ratio of -0.76 and a beta of 0.65.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.59. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The firm had revenue of $54.24 million for the quarter, compared to analyst estimates of $20.41 million. On average, research analysts predict that Alector, Inc. will post -1.88 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on ALEC shares. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Mizuho lowered shares of Alector from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $2.50 in a report on Tuesday, December 17th. Stifel Nicolaus downgraded shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research note on Monday, December 16th. Morgan Stanley reissued an “underweight” rating and issued a $1.50 price objective (down previously from $3.00) on shares of Alector in a research note on Friday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Alector in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Alector presently has an average rating of “Hold” and a consensus target price of $3.50.

Alector Company Profile

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, which is in Phase III clinical trial for the treatment of frontotemporal dementia, Alzheimer's, Parkinson's, and amyotrophic lateral sclerosis diseases; and AL101 that is in Phase I clinical trial for the treatment of neurodegenerative diseases, including Alzheimer's and Parkinson's diseases.